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Money Laundering & Terrorist Financing

Over 20 years of articles and reference material

A page dedicated to global, regional, UK and US anti-money laundering developments and initiatives.

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GIABA’s 5th Enhanced Follow-Up Report on Benin records FATF compliance upgrades on wire transfers and beneficial ownership, while the country remains under enhanced monitoring

June 21, 2026

Benin’s fifth enhanced follow-up report assesses progress against FATF Recommendations 16, 24 and 25, covering wire transfers, beneficial ownership of legal persons and beneficial ownership of legal arrangements. GIABA notes that Benin was placed in enhanced follow-up after its 2021 mutual evaluation because of low effectiveness ratings and multiple non-compliant or partially compliant technical ratings, with re-ratings granted only where sufficient progress has been demonstrated…

APG’s 2025 Typologies Report reveals that fraud accounts for 59% of reported cases, exposing the growing nexus between cyber scams, human trafficking, and virtual assets across Asia-Pacific

June 20, 2026

The report presents 114 case studies from 17 APG members and one observer jurisdiction, with fraud appearing in 59% of cases, financial institutions remaining the most used channel, and virtual assets, mule accounts, third-party platforms, cash and legal persons featuring prominently across laundering methods. It gives particular attention to cyber scam hubs and human trafficking in Southeast Asia, warning that industrial-scale fraud compounds generate tens of billions of dollars annually and require stronger intelligence sharing…

TI UK welcomes Bermuda’s proposal to introduce “legitimate interest” access to its BO register but argues that the framework should go further to align with FATF Rec 24 and the EU’s 6AMLD

June 19, 2026

TI UK argues Bermuda’s current definition of beneficial ownership is too narrow and should better capture individuals exercising control through ownership, voting rights, board appointments, significant influence, and trust structures. The paper supports granting access to journalists, civil society organisations, academics, reporting entities, and other parties involved in detecting money laundering, corruption, sanctions evasion, and related crimes…

FATF adds Bosnia and Herzegovina and Iraq to its grey list for enhanced AML/CFT monitoring, removes Algeria and Namibia and maintains Iran, North Korea, and Myanmar on its high-risk blacklist

June 19, 2026

FATF updated its list of jurisdictions under increased monitoring (“grey list”) at its June 2026 Plenary, adding Bosnia and Herzegovina and Iraq due to strategic deficiencies in their AML/CFT frameworks. Both countries have committed to implementing FATF action plans within agreed timelines. At the same time, Algeria and Namibia were removed from the grey list after making sufficient progress in addressing their AML/CFT deficiencies…

European Council leaders call for a tougher EU response to illicit drugs, backing stronger port security, international co-operation and a potential sanctions regime for transnational organised crime groups

June 19, 2026

In conclusions adopted at the 19 June 2026 European Council meeting, EU leaders call for a comprehensive, evidence-based response to drug use and trafficking, combining public health, prevention, treatment and social reintegration with stronger security, maritime and port resilience, and law enforcement co-operation with third countries. They also note the Commission and High Representative’s plan to propose a new horizontal sanctions regime targeting transnational organised crime groups, while separately advancing work on migration, the next EU budget, enlargement, Moldova, the Western Balkans…

HMT publishes its response to the AML/CTF Supervision Reform, confirming the FCA as the sole AML supervisor for legal and accountancy firms, reinforcing oversight, supervision and enforcement

June 18, 2026

The consultation response finalises policy positions for transferring AML/CTF supervision of legal, accountancy, and trust and company service providers to the FCA, covering registration and gatekeeping, supervisory powers, guidance, information-sharing, enforcement, funding, transition arrangements and accountability. It also outlines next steps for implementation, including legislative changes and further engagement with supervisors and stakeholders to support the transition…

NCA’s UKFIU June 2026 SARs Reporter Booklet reveals over £800,000 in frozen illicit funds and a dismantled 40+ money mule network, exposing organised fraud, corruption, and ML cases

June 18, 2026

Key interventions included £260,000 linked to bribery and corruption by a public-sector employee, over £200,000 seized in both a suspected kidnapping-related laundering case and an organised crime-linked vehicle sales business, and £60,000+ frozen from a suspected money mule account receiving unexplained third-party credits. Additional cases saw £25,000+ in suspicious cash deposits, £20,000+ in Bounce Back Loan misuse, and further restraint…

FinCEN and U.S. regulators propose a rule under the GENIUS Act establishing a Customer Identification Program (CIP) for permitted payment stablecoin issuers, requiring bank-like KYC standards under the BSA

June 18, 2026

The proposed rule would require permitted payment stablecoin issuers to establish written Customer Identification Programs that collect and verify identifying information, maintain records, and check customers against government lists. It forms part of wider GENIUS Act implementation for payment stablecoins, alongside separate AML/CFT and sanctions compliance proposals, with the agencies seeking public comment before finalising…

Singapore Police investigated 216 scammers and money mules tied to over 406 e-commerce, impersonation, job, investment, and rental scams cases, with losses exceeding $9M

June 18, 2026

The Police Force carried out a two-week islandwide operation from 4–17 June 2026, investigating 216 individuals (158 men and 58 women aged 16–73)the suspects are being probed for cheating, money laundering, and unlicensed payment services offences, which carry penalties of imprisonment, fines, and, from late 2025, mandatory or discretionary caning for scam-related and mule-facilitating activities…

Sweden FI’s latest report warns that FC risks remain high in 2026 across banks, payments, e-money and crypto, driven by organised crime and digitalisation, with risk levels higher than 5 years ago

June 18, 2026

The report highlights that these sectors continue to be exploited in organised crime schemes, with digitalisation and innovation creating new opportunities for illicit activity. FI also flags risks linked to misuse of financial companies and internal enablers. FI’s 2026 assessment finds that the risk level in the financial sector has increased compared to five years ago, driven mainly by the growing threat of organised crime, reinforcing the need for stronger AML…

FINTRAC releases a mortgage-sector training video using practical scenarios to help firms identify and report ML and mortgage fraud risks, while meeting AML compliance requirements

June 18, 2026

The video was published to help mortgage brokers, lenders, and administrators understand their obligations to identify and report suspicious transactions linked to money laundering, terrorist financing, sanctions evasion, and mortgage fraud. Red flags include unexplained sources of funds, nominee or third-party involvement, falsified income information, and unusual repayment patterns…

CoE’s GLACY-e programme united global enforcement leaders during EU Crime Fighting Week 2026 to intensify the fight against cyber-enabled FC, scam centres, and cross-border fraud networks

June 18, 2026

Discussions focused on tackling the growing threat of scam centres, improving intelligence sharing, enhancing international legal cooperation, and strengthening countries’ capabilities to investigate cybercrime and recover criminal assets. The initiative forms part of the EU- and Council of Europe-funded GLACY-e programme, which helps countries develop stronger cybercrime legislation, investigative capabilities, and international cooperation…

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